CEO of 7-month start-up takes only company credit card to Bali, refuses to make remote purchases or approve expenses while away, blocking software renewals, buying new hire’s laptop, and event catering for the month: 'Said he's busy and to figure it out'

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  • Man sipping his coffee on vacation.
  • Our only corporate card is with our CEO and he's in Bali for a month

    I work on a startup with 22 people (7 months old startup) and we have one corporate card only for the whole company which stays with the CEO only.
  • He left for Bali 3 weeks ago and will be gone for another week. There are multiple things that need to be paid (these are just some I didn't include everything): Annual software renewals (about $4k worth) New laptop for an engineer who starts Monday Catering for a client event next week \+ some random other stuff I've asked him to send me the card number over slack and he won't do it because of security reasons and then I asked if he could just make the purchases remotely but he again said he's
  • We don't have a company credit limit with any vendors and we can't do purchase orders.
  • We also can't use personal cards because our accountant freaked out last time someone did that.
  • We're stuck and the engineer starts on Monday (this Monday) and won't even have a computer because the CEO won't trust his employees?
  • Boss handing over the company credit card
  • What is this tell me? Let's say we abuse the card (worst case scenario ever). He would simply dispute all the transactions fire us and that's it I'm very curious if it's just a thing that this company does only (regarding this flow that we have when it comes to internal company purchases) because it's my first time working in a company so I'm not sure how others operate.
  • Btw best believe I won't be taking any responsibility for this because if the CEO doesn't care why would I care?
  • My goal is to get experience and I have to say I have gained a lot of positive experience but when it comes to accounting/financial side this startup just sucks
  • adomingo2 You mentioned you couldn't use your personal card. Thank God! Never use a personal card for a start up especially this one. It's possible you wouldn't get paid back.
  • Nirogunner So your CEO just wants his business to fail?
  • my_clever-name >What is this tell me? The CEO ran a one or two person company before it got too big and had to hire staff. Now that it's big, the CEO is still running it like a one or two-person company. Or the company is in financial trouble and there is zero money.
  • In-office business meeting.
  • IcySomewhere5437 Ok, so nothing happens until he gets back. Why is this hard?
  • chaseinger > said he's busy and to figure it out there is no figuring out. and if it was me, this boss idiot (idiot boss?) would learn it the hard way when he comes back with no renewed software, a new hire that sat on their hands for a month and a client event where the clients had to order pizza. > if the CEO doesn't care why would I care that's the spirit. I'm sure it's one of those "we are family" startups. well dad, you done fucked up. you also need to start looking for another job.
  • Corts 117 7 month start up and the CEO is already taking a 1 month. vacation? That sounds ridiculous, what a joke of a company. Good luck to you and your team with leadership like that.
  • ComicsEtAl Your company sounds like more of a short term kind of deal, and the boss is probably maxxing the card in Bali.
  • Beaesse Sounds like a classic FAFO situation. It is altogether appropriate to let a failure of a CEO's business fail. Not to do so creates moral hazard, I daresay. He will only continue to make people's lives miserable if he isn't punished for his failures.
  • Laughing_Man_Returns not even a year old start up and the CEO fucks off for a month... yeah... this is going to be fun when it implodes and people start looking where the money went.
  • Few_Witness 1562 \> a startup with 22 people (7 months old \> CEO in Bali w the company expense card for 3 weeks. Suddenly the CEO can't be bothered to pay expenses. Also I foresee the "company processing your payroll" is going to make a mistake and paychecks will be "late." Odds are you have gotten your last paycheck.
  • usa_reddit Sell stuff on eBay from the CEO's office to pay expenses. What do you have in the office that is a value that you could sell on eBay or Facebook marketplace? He said figure it out.
  • newforestroadwarrior A company which relies on a single corporate credit card for all purchasing isn't going to be around for much longer.
  • unicorn8dragon Can't your accountant cut a check or issue a purchase order to the vendors? But yeah that's pretty annoying and a big red flag. Def don't use your personal card. Don't sign for anything in a personal capacity either.

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